POELLATH advises management of Viridium Group on sale to a consortium consisting of Alli-anz, BlackRock and T&D Holdings
A consortium consisting of Allianz, BlackRock and T&D Holdings has acquired a stake in Viridium Group (“Viridium”), a leading European platform for the consolidation of life insurance policies. The seller is the international private equity firm Cinven. While the investor is terminating its majority stake in Viridium after more than ten years, Generali Financial Holdings and Hannover Rück remain invested as shareholders. Viridium will remain independent as a platform and continue to be managed by its current management team. This transaction enables Viridium to strengthen its position as one of the leading specialists in insurance portfolios in Europe and ensures financial security for its current and future customers. The closing of the transaction is still subject to the standard regulatory approvals. Closing is expected in the second half of this year. POELLATH advised the management of Viridium Group on the sale in legal and tax matters.
Viridium Group, based in Neu-Isenburg (near Frankfurt), is a leading European specialist in life insurance portfolios, with 3.4 million policies under management and EUR 67 billion in investments (status: end of 2023). The company makes existing life insurance policies more attractive and creates measurable added value for both its customers and shareholders. This is reflected in improved profitability, high capital strength and a state-of-the-art corporate platform. Viridium thus makes an important contribution to ensuring that private retirement provisions with life insurance remain viable in the future.
POELLATH advised the management of Viridium Group on legal and tax matters related to the sale with the following Munich-based team:
- Otto Haberstock (partner, lead, M&A/PE, management participation)
- Dr. Michael Best (partner, tax)
- Dr. Tobias Deschenhalm (counsel, tax)
- Angelina Seelbach (senior associate, M&A/PE, management participation)
- Rudolf Kanter (associate, tax)
